Distributor CBS films has paid $4 million for the U.S. rights to "Inside Llewyn Davis," the 16th feature by Oscar winners Joel and Ethan Coen.

The independently produced film was financed by Scott Rudin, who worked with the Coens on their 2007 best picture winner "No Country for Old Men" and 2010's "True Grit."

The new film is a comic drama set in the 1960s Greenwich Village folk-music scene. Oscar Isaac plays the title character, a ne'er-do-well singer-songwriter with a troubled career and love life, and a mutinous cat. Also in the cast are Carey Mulligan, Justin Timberlake, John Goodman and F. Murray Abraham.

The film features half a dozen songs performed live by the cast. Grammy-winner T. Bone Burnett, who produced the hit soundtrack to the Coens' "O Brother Where Art Thou?" does the same duties here.

While CBS Films' Vice President of Publicity Grey Munford said a release date was not yet determined. It seems likely that "Inside Llewyn Davis" will open next fall for consideration in the 2014 film awards cycle. "You can look at the filmmakers and draw your own conclusions," Munford said.

CBS Films has released nine movies to date, most recently "Salmon Fishing in the Yemen," "The Words" and "Seven Psychopaths."